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Plato's Closet Franchise Opportunities

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North America's #1 Teen/Young Adult Resale Franchise
The Business
Plato's Closet is a retail-resale brand aimed directly at one of the marketplace's most demanding and discerning demographics: teens and twenty-somethings. Using our "ultra-high-value" approach to the resale industry, we've been able to create a vibrant, kinetic retail experience that not only keeps up with the latest trends and fashions, but builds loyalty with young customers and families who are looking for affordable options and appreciate the opportunity to sell us the clothes that no longer fit or meet their personal style.

The Leader
When it comes to fashion and accessories, teenagers and twenty-somethings have a lot of choices—in fact, a significant segment of the fashion retail industry is already dedicated just to them. Plato's Closet has the advantage of carrying items from all retailers in this category in one location. This continues to prove enticing and convenient to shoppers in the communities where we have established franchises, where they can shop in one store and get all the latest brands, styles and fashions at affordable prices.

The Biggest
Plato’s Closet continues its reign as the leading national retail store of its kind. With nearly 470 locations across North America and new stores opening each month our impact continues to grow. The brand is rapidly expanding, but there are still untapped markets across the US and Canada ripe for a new franchisee to establish their own Plato’s Closet.

The Best
Can you believe a store selling gently used teen and young adult clothing and accessories could have average gross sales of just under $1M? That’s Plato’s Closet. Did you know our top quartile in the system (over 100 stores) has average gross sales of over $1.4M? Plato’s Closet is designed to be a high volume, high gross margin business. The model is proven, it works, it’s scalable and it is the best in the business.

The Opportunity
Life changing. That’s what we hear from our franchisees. Our system includes young couples entering into business ownership for the first time, retired executives ready to chart their own course, families who are building a business with multiple locations to pass on as their siblings and children grow up. This is a business you can grow from one store to many depending on your goal.

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Plato's Closet Franchise Background

Established: 1988
First Unit Franchised: 1999
Franchised Units: 468
Company Owned Units: 0
States Registered In: All
Canada Franchises: Yes
International Franchises: No

Plato's Closet Franchise Training

Financial Assistance Provided: Yes
Site Selection Assistance: Yes
Lease Negotiation Assistance: Yes
Recruiting Assistance: NA
Co-Operative Advertising: Yes

Training: Winmark conducts its 2-part training program at Winmark’s training center in Minneapolis. The training program is typically offered 11 times per year. The first session of the training program, New Franchisee Orientation Training (NFOT), covers several aspects of management and operation of a franchised retail business, including real estate matters, business plan development, buying used and new products, Winmark’s service vendor program and other topics Winmark may select.

The first session will take place over a period of 5 days. At NFOT, you will be required to participate in an online financial management course conducted by Winmark’s third party vendor. This course will educate you on how to understand your financial statements and utilize the information to build your business.

The second session of the Plato's Closet® training program, Concept Training, is attended when financing, lease and the online financial training program are complete. It is conducted over a period of at least 5 days and will include instruction on sales, customer service, marketing, advertising, computer operation and store inventory, staff and financial management, as well as topics Winmark may select.

Other Info: Ranked #1 in category - Franchise 500 since the inception of the Apparel and Accessories Category in 2011.
High profit, High Margin business.
Top Quartile average gross sales $1,434,323
Top Quartile average gross profit $883,162
100% franchised system that serves franchisee success—not corporate stores
An extensive training program to prepare you for the business ownership
Our willingness to work with first-time franchisees and family teams
Ongoing operations and marketing support from our dedicated franchise team
A critical and enticing niche inside the retail marketplace
Powerful POS system and online cloud platform to assist you with pricing and reporting
A robust corporate infrastructure that is ready to support the needs of our franchisees

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